Clear Your Head To Gain Trading Edge
2020-06-03 | Simpler Trading Team
Despite this week’s uptick, the market this year has ripped away many fundamental trading plans.
It’s seeping into traders’ minds.
Like a nemesis in a sports contest.
Traders are looking at the market like a batter facing that one pitcher who messes with their game.
A player can be batting .500 and then go down swinging every time against that one hurler.
Doesn’t matter that this batter is roughing up other pitchers.
It’s just that nemesis in their head.
Like the market.
How do you start getting more hits in this erratic market?
Find your edge.
You see the market differently than anyone else.
The secret to breaking out in this market, and sustaining a winning run, is not to play the game like everyone else. Sure, there are common methods and important basics.
But trading must be your game.
If you’re getting roughed up at the plate, so to speak, step back, dust off, and reassess the game plan.
What’s not been working?
What’s been working?
What are your goals?
Every athlete needs to revisit their game plan regularly, and traders must learn their own weaknesses and strengths in trading just the same.
High-profile athletes seek help from coaches and other players. The secret to trading with an edge — and getting the market out of your head — is to get exposure to a wide variety of trading styles.
This helps you discover which one works for you — it “clicks” — and helps you gain a clearer focus on the market.
That’s the edge traders seek.
Once traders determine their edge, they can once again target trades worth waiting for (no FOMO — Fear Of Missing Out) and how to identify setups.
It’s the Simpler way of stepping up to the plate.
We Saw: More job losses mixed with higher economic expectations —
- Four-day win streak: first for S&P since February
- Dow soars 527 points
- Nasdaq rounds out uptick, gains .78%
We’re Watching: … markets feverishly rallying higher —
- Key stocks pushing toward previous highs
- Keeping cash on hand if pace is too much
- Squeezes firing for bullish opportunities
Can you make gains with “boring” trades in a volatile market? Find low-risk trades in any market HERE.